Pharma stocks in the limelight
Pharma stocks seem to be in favor today morning. First it was Aurobindo Pharma hitting a new 52-week high at Rs.885. Suven Life Sciences rose over 5% to Rs.275.20. Then Lupin- it was not exactly as trailblazing like these two but it was up almost 1.5% at Rs.1865.
Aurobindo hit a high after it said that it had received the US FDA approval for Esomeprazole magnesium (Nexium generic). This is used to treat gastric ulcers and other gastric reflexes. This is the 13th UD FDA approval for the company in the current quarter of which nine were in December alone.
Suven Life Sciences is up after it announced having received two product patents, one from Europe and the other from Macau. Both are for its new chemical entities for treatment of neurogenerative diseases.
On the other hand, Lupin was up having received the US FDA approval to market Femhrt tablets in USA, used for the treatment to moderate severe vasomotor symptoms due to menopause and prevention of postmenopausal osteoporosis. The company stated that it will begin promoting the product shortly in USA.